Ex-Flipkart CTO Peeyush Ranjan, Myntra founder Mukesh Bansal launch AI-led edtech startup Fermi.ai

Seasoned entrepreneur Mukesh Bansal, co-founder of Myntra and Cult.fit, has partnered with former Google and Flipkart executive Peeyush Ranjan to launch a new edtech startup called Fermi AI.

The startup is based in Singapore and focuses on AI-first learning for high-school students in STEM subjects such as science, technology, engineering and mathematics. Fermi AI will begin operations in India and the US.

In India, it will offer after-school coaching for Classes 9 to 12, starting with physics, chemistry and mathematics (PCM). In the US, the platform will focus on Advanced Placement (AP) STEM courses. The app has been launched as a free trial, and details about pricing and full rollout will be announced later.

According to the founders, Fermi AI is different from other AI-based edtech platforms. Instead of directly giving answers through chatbots, the platform guides students step by step to reach the solution on their own.

Ranjan said the aim is to help students understand concepts better and feel a sense of achievement rather than getting quick answers. The platform also supports teachers by providing detailed data and analytics on student performance, including weak areas. This helps teachers offer more focused and personalised learning.

Fermi AI is also stylus-first, allowing students to write on tablets using a stylus, similar to writing on paper.

According to Ranjan, this improves learning and retention. Fermi AI was incubated at Meraki Labs, an early-stage venture studio and fund founded by Mukesh Bansal.

Both Bansal and Ranjan are partners at Meraki, which is currently funding and advising the startup. The startup has not raised external funding yet.

Ranjan said the immediate focus is on building the product and proving user traction before raising money from outside investors. The startup recently completed a three-month pilot with 79 students. The results showed that students who initially scored around 2 out of 10 improved to an average of 6.7, while students who started at 5 out of 10 reached nearly 8 out of 10 by the end of the pilot.

In the future, Fermi AI plans to add more subjects, including biology for NEET coaching, as well as engineering, accounting and data science. The startup also plans to expand into college-level and skill-based courses such as prompt engineering, statistical analysis and actuarial science. Global expansion is also part of the roadmap.